Solvency II EU / UK

On 23 March, INREV together with other industry associations submitted a joint statement to the UK HM Treasury on Solvency II matching adjustment reform. The industry welcomed the government’s objectives to support insurance firms in supplying long-term capital to underpin growth and asked for further clarifications around the applicability of the changes to the real estate sector.

Jeff Rupp, Public Affairs Director at INREV, gave an update on the EU and UK reviews of Solvency II and the real estate industry’s efforts to introduce more appropriate regulation of insurers’ real estate investments.

Read the latest snapshot INREV produced on the Solvency II rules in UK.

On 18 July, INREV filed a response to HM Treasury’s Solvency II Review consultation suggesting improvements that would free up insurers’ capital to support important government policy initiatives including financing of the real economy and green transition.

Read the latest snapshot INREV produced on the Solvency II rules in EU.

On 20 October, INREV filed a response to the European Commission’s Solvency II Review Consultation. The responses will be an important input to the Commission review process of the Solvency II framework.

On 25 August, INREV filed a response to Solvency II Review Roadmap supporting a planned assessment of how Solvency II rules can support long-term investments.

On 9 January, INREV together with a number of industry associations, filed a response to EIOPA consultation on the opinion on the 2020 review of Solvency II.  

Download EIOPA consultation paper on the opinion of the 2020 review of Solvency II.

This webinar, led by Craig Turnbull, Investment Director at Standard Life, and Jeff Rupp, Director of Public Affairs at INREV, will provide participants with an overview of the directive and its requirements. The webinar will also provide participants with a better understanding on the current real estate investment drivers for insurers.

On 10 May INREV published a snapshot of the recent MSCI Solvency II update which confirms that the standard model real estate SCR of 25% does not reflect the volatility of real estate investment in Europe. We are using the new data to encourage policy makers to adopt an SCR that more accurately reflects the documented risk.

An updated independent study confirms that the current solvency capital requirement (SCR) of 25% for European real estate investment under the Solvency II Directive, including through funds, does not reflect the true volatility of real estate investment in Europe.